expansionary monetary and fiscal policies. Inflation also increased, however, during the administration of President Nestor KIRCHNER, which responded with price restraints on businesses, as well as export taxes and restraints, and beginning in early 2007, with understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late 2007, and the rapid economic growth of previous years began to slow sharply the following year as government policies held back exports and the world economy fell into recession. The economy has rebounded from the 2009 recession, but the government's continued reliance on expansionary fiscal and monetary policies risks exacerbating already high inflation, which remains under-reported by official statistics.
GDP (purchasing power parity):
$596 billion (2010 est.) country comparison to the world: 24 $554.5 billion (2009 est.)
$571.6 billion (2008 est.)
note: data are in 2010 US dollars
GDP (official exchange rate):
$351 billion (2010 est.)
GDP - real growth rate:
7.5% (2010 est.) country comparison to the world: 14 −3% (2009 est.)
5% (2008 est.)
GDP - per capita (PPP):
$14,700 (2010 est.) country comparison to the world: 76 $13,700 (2009 est.)
$14,100 (2008 est.)
note: data are in 2010 US dollars
GDP - composition by sector:
agriculture: 8.5%
industry: 31.6%
services: 59.8% (2010 est.)
Labor force:
16.62 million country comparison to the world: 36 note: urban areas only (2010 est.)
Labor force - by occupation:
agriculture: 5%
industry: 23%
services: 72% (2009 est.)
Unemployment rate:
7.9% (2010 est.) country comparison to the world: 84 8.7% (2009 est.)
note: based on official data, which may understate unemployment
Population below poverty line:
30% (January-June 2010)
Household income or consumption by percentage share:
lowest 10%: 1.2%
highest 10%: 32.6% (2009)
Distribution of family income - Gini index:
45.7 (2009) country comparison to the world: 38
Investment (gross fixed):
22% of GDP (2010 est.) country comparison to the world: 67
Public debt:
50.3% of GDP (2010 est.) country comparison to the world: 51 48.6% of GDP (2009 est.)
Inflation rate (consumer prices):
22% (2010 est.) country comparison to the world: 222 16% (2009 est.)
Central bank discount rate:
NA%
Commercial bank prime lending rate:
15.66% (31 December 2009 est.) country comparison to the world: 22 19.47% (31 December 2008 est.)
Stock of narrow money:
$41.66 billion (31 December 2010 est) country comparison to the world: 46 $35.33 billion (31 December 2009 est)
Stock of broad money:
$112.9 billion (31 December 2010 est.) country comparison to the world: 49 $85.18 billion (31 December 2009 est.)
Stock of domestic credit:
$113.9 billion (31 December 2010 est.) country comparison to the world: 47 $84.92 billion (31 December 2009 est.)
Market value of publicly traded shares:
$48.93 billion (31 December 2009) country comparison to the world: 48 $52.31 billion (31 December 2008)
$86.68 billion (31 December 2007)
Agriculture - products:
sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat; livestock
Industries:
food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel
Industrial production growth rate:
6.7% (2010 est.) country comparison to the world: 45
Electricity - production:
109.5 billion kWh (2007 est.) country comparison to the world: 30
Electricity - consumption:
99.21 billion kWh (2007 est.) country comparison to the world: 31
Electricity - exports:
2.628 billion kWh (2007 est.)
Electricity - imports:
10.28 billion kWh (2007 est.)
Oil - production:
796,300 bbl/day (2009 est.) country comparison to the world: 26
Oil - consumption:
622,000 bbl/day (2009 est.) country comparison to the world: 26
Oil - exports:
314,400 bbl/day (2007 est.) country comparison to the world: 38
Oil - imports:
52,290 bbl/day (2007 est.) country comparison to the world: 84
Oil - proved reserves:
2.386 billion bbl (1 January 2010 est.) country comparison to the world: 34
Natural gas - production:
41.36 billion cu m (2009 est.) country comparison to the world: 20
Natural gas - consumption:
43.14
